Building Details

Year Built 1994

Buildings 1

Stories 1

Construction ranch

Tenancy Multi

Listing Agency: Keller Williams Fox Cities d***@lathropteam.com Show Phone

Listed By: Diane M Lathrop · License #94-62326 Show Phone

Source: Compass

Added: Mar 12 Changed: Aug 8 Last Checked: Jul 21 at 9:59PM

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Investment Insights

Based on property information with market context.

This side-by-side ranch duplex is located in the quiet community of Black Creek and offers main-level living in a practical, easy-to-maintain layout. Each unit features 2 bedrooms and 1 full bathroom, along with a full unfinished basement for additional storage or future finish-out. Both units are currently tenant occupied.

The property is being sold with tenants on month-to-month agreements, and no leases are in place. A 12-hour notice is required for showings.

The duplex configuration includes separate unit living space with basements below, supporting straightforward operation for an owner-operator or investor seeking a residential income property.

Key Highlights

• Side‑by‑side duplex built in 1994 featuring 2 units with 2 bedrooms and 1 full bath each
• Each unit includes a full unfinished basement
• Two furnaces and two air conditioners; forced‑air heating with natural gas

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$14,632

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

4.72%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$292,640 $292.6K

Cap Rate 7%

$209,029 $209.0K

Cap Rate 9%

$162,578 $162.6K

Market Conditions

NOI Build-Up for 1,920 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$21.9K $11.40/SF

− Vacancy

−$985 −$0.51/SF

EGI

$20.9K $10.89/SF

− OpEx

−$6.3K −$3.27/SF

NOI

$14.6K $7.62/SF

Area

Outagamie County, WI

Vacancy

4.50%

Lease Rate

$11.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$292,640

Cap Rate 7%

$209,029

Cap Rate 9%

$162,578

Alternative Uses

Best Use

Multifamily LT 5

$209.0K

$182.9K – $243.9K (±1% cap)

NOI $14,632 @ 7.0% cap · market cap 4.72%

Second Best

Apartment 5plus

$195.7K

$171.2K – $228.3K (±1% cap)

NOI $13,696 @ 7.0% cap · market cap 4.42%

Theoretical Best

Office A

$529.4K

$463.2K – $617.6K (±1% cap)

NOI $37,056 @ 7.0% cap · market cap 11.95%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Hair Salon Dental Office Nail Salon Catering Service Cafe & Coffee Shop Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

136

Businesses Nearby

Explore this area Business Placement

Demographics for 54106, WI

4,674

Population

2,169

Households

2.2

Avg Household Size

41

Median Age

14%

College-Educated

94%

High-School Grad

87.4 sq mi

ZIP Area

53

Density / Sq Mi

$88,606

Median Household Income

$50,342

Median Earnings

$764

Median Rent

$254,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Ranch duplex with two 2-bedroom, 1-bath units, each with a full unfinished basement, tenant occupied on month-to-month agreements.

Where is this duplex located?

The property is located at 601 East Forest Street Black Creek, WI.

What is the asking price?

The asking price for this property is $310,000.

What are key features of this property?

This property features: Side‑by‑side duplex built in 1994 featuring 2 units with 2 bedrooms and 1 full bath each; Each unit includes a full unfinished basement; Two furnaces and two air conditioners; forced‑air heating with natural gas